Industry 4.0 is more topical than ever. More and more companies attach importance to the expansion of automation, the introduction of Internet of Things systems or the completely new conception of existing production processes. But is Blockchain a valuable component for industry 4.0? The IOTA Foundation says yes and has a more accurate picture of the future as shown in a recent video.
With the title “Industry 4.0 -- Smart Manufacturing” IOTA presents a vision of intelligent and networked manufacturing in which the many small microtransactions in M2M (Machine2Machine) communication are realized with the help of IOTA technology.
IOTA is based on the so-called Tangle Network. This network is used both for transactions of the crypto currency MIOTA, but can do far more than just the exchange of credit. In the production of the future, IOTA wants to be used for the exchange of information. All information from the production process would end up in the tangle network, making production more transparent. IOTA hopes that this will also increase the efficiency of the processes.
IOTA Ledger of Everything -- Internet of Things Industry 4.0 (Source: IOTA Foundation)
IOTA and the industry 4.0 -- the procedure
For the exchange of information to work optimally, each machine must confirm two other transactions in the tangle network in addition to receiving information. Due to the progressive development of the Internet of Things, machines are learning to communicate more and more fluently with each other and thus also to check transactions more quickly. The video shows how the Tangle protocol transmits, evaluates and exchanges various types of production data. The possibilities of which factory data can be exchanged via digital channels are almost limitless. In addition to pure efficiency storage, continuous data analysis also enables continuous maintenance, which also makes the production processes safer.
The future of industry 4.0 calls for machines to work more independently and autonomously. This also means that information, commands and, in some cases, money must be exchanged in real time. This can be done with the help of the Tangle protocol. This not only makes the entire supply chain process more transparent, but also ensures data integrity and security.
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